06-Business Markets and Business Buying Behavior

06-Business Markets and Business Buying Behavior - Business...

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1 Business Markets and Business Buying Behavior *Powerpoints refined from Pearson
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2 1. Define the business market and explain how business markets differ from consumer markets 2. Identify the major factors that influence business buyer behavior 3. List and define the steps in the business buying- decision process 4. Compare the institutional and government markets and explain how institutional and government buyers make their buying decisions
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3 Business markets Business buyer behavior refers to the buying behavior of the organizations that buy goods and services for use in production of other products and services that are sold, rented, or supplied to others. Also included are retailing and wholesaling firms that acquire goods to resell or rent to others for profit. Business buying process is the process where business buyers determine which products and services are needed to purchase, and then find, evaluate, and choose among alternative brands
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4 Business Markets Characteristics of Business Markets
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5 Business Markets Characteristics of Business Markets Structure and demand Nature of the buying unit Types of decisions and the decision-making process
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6 Business Markets Market Structure and Demand Fewer and larger buyers Geographic concentration Derived demand Inelastic demand Fluctuating demand Buyer and seller dependency
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7 Business Markets Types of Decisions and the Decision-Making Process Supplier development is the systematic development of networks of supplier-partners to ensure an appropriate and dependable supply of products and materials that they will use in making their own products or resell
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8 Business Buyer Behavior Marketing Stimuli Similar to consumer buying, business buying consists of the four P s P roduct P rice P lace P romotion
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9 Business Buyer Behavior Marketing Stimuli Additional stimuli include major economic forces Political Economic Technological Cultural Competitive
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06-Business Markets and Business Buying Behavior - Business...

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